New Delhi, April 2 -- The Gross Good and Services Tax (GST) revenue for March 2024 witnessed the second highest collection ever at Rs.1.78 lakh crore, with a 11.5% year-on-year growth. This surge was driven by a significant rise in GST collection from domestic transactions at 17.6%. GST revenue net of refunds for March 2024 is Rs.1.65 lakh crore which is growth of 18.4% over same period last year. This was informed by the Ministry of Finance in a press release.

The press release stated that FY 2023-24 marks a milestone with total gross GST collection of Rs. 20.18 lakh crore exceeding Rs.20 lakh crore, a 11.7% increase compared to the previous year. The average monthly collection for this fiscal year stands at Rs.1.68 lakh crore, surpassi...